What Will I Need At Settlement&quest;

Whether you are purchasing a home, selling a home, or refinancing, knowing what to expect and being prepared at the “closing” can help eliminate stress and result in a pleasant experience. We understand how important this transaction is to you, and we are committed to consistently providing a level of service that prepares you for this final step in your real estate transaction.

Although the settlement process can vary from state to state, in Maryland, these are some common items that may be required from you at closing and can help your closing go as smoothly and quickly as possible.

Valid Photo Identification

Two forms of identification are typically required at closing, including one of the following:

Valid U.S. driver’s license or non-driver ID

Military ID

Valid Canadian or Mexican driver’s license issued by the Official Agency

Current United States or Foreign PassportForeign Passport must have been stamped by U.S. Immigration and Naturalized Service

Wire Transfer

In the event you are required to bring funds to closing, please contact us for bank routing instructions to wire the funds. If you will be bringing a proceeds check from another settlement, please contact us to verify the acceptance of those funds - we do not automatically accept all checks.

Note: If you receive an e-mail or any other communication that appears to be generated from our company that contains new, revised or altered bank wire instructions, consider it suspect and call our office at a number you trust. Our bank wire instructions seldom change.

Hazard Insurance Policy and Paid Receipt

A hazard policy, also known as homeowner’s insurance, with the lender designated as the insured holder of the mortgage, is required on most loans. Evidence of hazard insurance, including a paid receipt, must be provided prior to closing.

All Persons Who Hold Title to the Property or Who Will Be Purchasing the Property MUST Attend Closing to Sign Documents

State-specific laws may require the spouse of the parties in title, even though their name does not appear on the deed, to sign certain documents when obtaining a mortgage. If anyone is unable to attend closing, contact us to arrange a Power of Attorney or closing by mail.

This article is presented with the permission of First American Title Insurance Company, which makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.